Research on predictions of income in retirement

Document type
Working Paper
Author(s)
Kotecha, Mehul; Kinsella, Rachel
Publisher
DWP
Date of publication
1 November 2010
Series
Working paper; 87
Subject(s)
Older Adults, Poverty Alleviation Welfare Benefits and Financial Inclusion
Collection
Social welfare
Material type
Reports

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This in-depth, social research was undertaken to shed light on the questions of whether and to what extent people are able to predict their income in retirement. The main aims were to explore people’s attitudes and behaviour towards retirement planning as well as the feasibility of conducting larger-scale experimental research that would look at the role and impact of information on retirement planning.

The research found, unsurprisingly, great variation in the ease with which people were able and willing to make predictions. It found patterns in the types of methods people used - these in turn suggest potential options around providing information on retirement planning.